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Dollar drops on Trump criticism; U.S., Europe stocks tepid

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Business Insider points to a report from Chinese publication Global Times claiming that Chinese textile manufacturers that produce Trump gear are having greater trouble getting their goods into the United States thanks to the current trade war between the US and China. Read More »

Ritz crackers nationwide due to salmonella

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Various Ritz Cracker and Ritz Bits products that contain cheese are being voluntarily recalled throughout the United States over concerns about possible Salmonella contamination. The Canadian Food Inspection Agency says consumers who believe the products may have made them sick should contact their doctor. While the rice products are sold across Canada, the recall affects only products sold in eastern Canada. Read More »

Select Uncle Ben's rice products recalled due to possible Salmonella contamination

The recall includes certain Riz Cracker sandwiches and Ritz Bitz products that contain whey powder as an ingredient. A number of food recalls have been issued for goods sold in Atlantic Canada. "Healthy people may experience short-term symptoms such as fever, headache, vomiting, nausea, abdominal cramps and diarrhea". Consumers with questions can contact the company at 1-844-366-1171, 24 hours a day for more information. Read More »

Ryanair to cancel 24 flights on Friday due to Ireland…

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Ryanair had already said July 17 it would cancel 24 flights between the United Kingdom and Ireland on July 20 after the Irish Airline Pilots' Association (IALPA ), a branch of union Forsa, gave notice of two more one-day strikes beginning at 0100 on July 20 and 0100 on July 24. Read More »

PM's pre election shuffle eyes border, trade and bruising provincial relations

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James Gordon Carr moves from Minister of Natural Resources to Minister of International Trade Diversification. Carr will be responsible for ensuring the ratification of the Trans-Pacific Partnership (TPP) trade deal with 10 other countries - not including the USA, after Trump pulled out of the deal - and of concluding a trade accord with the four South American countries of Mercosur (Argentina, Brazil, Paraguay and Uruguay). Read More »

Marchionne exits Fiat Chrysler, Ferrari amid health crisis

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Louis Camilleri, a Ferrari board member has been named CEO of the sports vehicle maker, while John Elkann , grandson of Gianni Agnelli and chairman of FCA , has been named as chairman of Ferrari. In 2015, Marchionne spun off Ferrari; shares of the Italian supercar maker have returned over 150%. Marchionne, 66, was credited with rescuing Fiat and Chrysler from bankruptcy after taking the wheel at the Italian carmaker in 2004. Read More »

Amazon sells 100 million products on Prime Day despite boycott and strikes

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FBN's Deirdre Bolton on the tech glitches during Amazon's Prime Day . The online retailer does not disclose revenue from the 36-hour event that began on Monday. At best, some Prime members found humor in the canine photos, but other shoppers were justifiably less amused they couldn't start bargain-hunting. The e-commerce titan also reports that Prime members globally purchased over 100 million products during the holiday, and that small- and medium-sized businesses (SMBs) selling on its ... Read More »

Gold slumps to lowest in a year on strong dollar, weak oil

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But both main contracts fell again following a report late Tuesday by the American Petroleum Institute that USA crude stockpiles had increased by more than 600,000 barrels last week. "He rattled off a long list of reasons why you should expect solid growth". "He will undoubtedly acknowledge some downside risks associated with the administration's trade warmongering, but he will likely try to avoid sounding critical of the administration". Read More »

Burberry criticised for destroying R450m worth of merchandise

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The company burned unsold clothes, as well as accessories and perfume in the value of £28 million, according to its annual report. While Burberry said the energy created from the burning was captured, making it environmentally friendly, social media users vented their frustration about the waste. Read More »

Boeing wins $12.7 billion deal as VietJet doubles down on 737 Max

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New-age carrier Vietjet and Boeing Commercial Airplanes recently signed an order contract for 100 B737 MAX aircraft worth a total of US$12.7 billion at the Farnborough International Airshow 2018. Planemakers often strike deals during the rest of the year with customers shy about disclosing their identity, especially in countries like China with complex approval processes. Read More »

British Airways says I.T. issue resolved, trying to minimise disruption

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Councillor Ray Puddifoot, leader of Hillingdon Council, said: "We have given the government numerous opportunities to address our concerns and answer our questions and they have demonstrably failed to do so". A fire alarm are halting arriving and departing planes at London's largest airport as the control tower has been evacuated after fire alarm was activated on the airfield Wednesday. Read More »

Larry Kudlow blames Xi Jinping for Trump tariff, China trade war

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Kudlow's remarks, delivered at the CNBC Institutional Investor Delivering Alpha Conference, come as many from Wall Street to Washington have said the economic recovery - in its ninth year - is long in the tooth. "We are waiting for him (Xi)". Kudlow on Wednesday implied Jinping is refusing to heed Trump's calls to alter China's technology transfer and other trade policies. Read More »

We walked the talk on electrification, said PM Modi

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He said that all villages in India were electrified by April 28, 2018, which is a historic date; adding, it was a pity that after 70 years of independence, people don't have access to electricity. "All this has changed", she said. A Class IX student from a village in Reasi district in Jammu and Kashmir thanked Modi for his efforts. The Opposition will also press for the Women's Reservation Bill. Read More »

Trump Threatens Tariffs on $500 Bln of Chinese Imports

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S&P 500 futures fell by 0 .3% in response to the comments and Dow Jones Industrial Average futures fell 0.4% shortly after the news. Mr Trump has slapped hefty import taxes on steel and aluminium from the EU, Canada and Mexico, in addition to imposing levies on goods from China worth tens of billions of dollars, sparking retaliatory tariffs and stoking fears of an all-out trade war. Read More »

Second, Bit Larger Samsung Galaxy Watch Stops by FCC

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While it is not confirmed, the Galaxy S10 Plus could simply end up replacing the Galaxy Note 10 and feature the S Pen accessory as well. It also means that the Note 9 could be an incremental upgrade over the Note 9. There is also Bluetooth LE on board for smartphone connectivity. In the imaging department, the Galaxy Note 9 could settle for a 12MP + 12MP dual-camera setup at the rear while the front camera specs remain unknown. Read More »

Trump Slams Rate Increases By Independent Federal Reserve

Around $505 billion of Chinese goods came into the United States in 2017, leading to a trade deficit of almost $376 billion, USA government data shows. "If a decision is a close call, then the appearance of kowtowing to the president may bias them toward raising rates". "I really like President Xi a lot". Read More »

Cloud-driven Microsoft crosses $100bn revenue for first time

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In particular, the fourth quarter saw Microsoft's Office commercial products and cloud services increase revenue by 10 percent, mostly driven by 38 percent growth in Office 365 commercial revenue. Productivity and Business Processes were $9.7bn, up 10 per cent. Office commercial revenues were up 8 per cent, while Office consumer revenues were up 6 per cent. Read More »

Donald Trump: China and European Union ‘Manipulating Their Currencies’

The magnitude of the imbalance has continued into 2018, with Chinese imports totaling $205 billion in the first five months of the year and the deficit reaching $152 billion. According to some analysts, China could take some other steps to tackle the USA trade attack, including cutting U.S. investments, rejecting the country's oil and gas, dumping the U.S. Read More »

Trump's Fed Outburst: All Downside, No Upside

Low interest rates reduce the costs of borrowing money and fuel economic expansion, but risk spurring rampant inflation and financial market bubbles. In his exact words, the President said he's " not thrilled " with rate hikes and worries that work done by his administration will be nullified. Read More »

'Ready to Go' With Tariffs on $500B of Chinese Imports

The U.S. has identified a further $200 billion in Chinese goods the U.S. may target for tariffs, for a total of $250 billion. In retaliation, China levied taxes on the same value of U.S. The U.S. economy would be "especially vulnerable", given it would be the focus of retaliation in a tit-for-tat conflict, Obstfeld said. There is already pushback in the USA from businesses that will take a hit in an escalating trade war . Read More »

Oil prices inch lower amid supply relief

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He also said that it is this common objective of stabilizing the global oil market that has brought the 25 OPEC and Non-OPEC producers to work together under the historic Declaration of Cooperation, which remains in effect till the end of 2018. Read More »

Trump tells Fed not to raise rates

The dollar relinquished gains from earlier in the day and Treasury yields dropped following the president's remarks. He added, "No one in the administration has said anything to me that really gives me concern on this front". After Trump's interview with CNBC was made public, Lindsay Walters, a White House spokeswoman, said the president " respects the independence of the Fed". Read More »

Trump in unorthodox criticism of United States central bank

The commander-in-chief acknowledged that his criticism was unusual - but said he didn't care. Still, President Trump voiced concern that the higher rates and a stronger dollar may put the United States at a disadvantage while Fed counterparts in the Bank of Japan and the European Central Bank keep rates low, maintaining loose monetary policy. Read More »

Walmart enters strategic partnership with Microsoft

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The two companies announced a five-year deal today, one that revolves around Microsoft's artificial intelligence technologies and the ways they can help Walmart retail stores. The retailer also will be able to operate at scale as it builds a global Internet of Things (IoT) platform on Azure, ranging from connected HVAC and refrigeration units to reduce energy usage in thousands of USA stores to the application of machine learning in routing thousands of trucks in the supply chain. Read More »

Orders rain at Farnborough for Boeing and Airbus

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A logo of Qatar Airways is seen at Hamad International Airport in Doha, Qatar June 12, 2017. The Airbus deals announced at Farnborough, southwest of London, would add up to more than Dollars 17 billion at catalogue price for the planes if all orders are confirmed and prior to large discounts traditionally handed to purchasers. Read More »

Singapore Airlines named world's best airline in Skytrax awards

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The last time SIA took home the gold award was in 2008, and previous year it came in second in the ranking done by London-based research firm Skytrax . Skytrax chief executive Edward Plaisted said: "A key "wow" factor for customers is consistency and this proved to be a real asset for Singapore Airlines , which scored highly across both product and service". Read More »

IMF warns trade tensions could disrupt global growth

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The fund warns growth could be cut by a half point by 2020 if all the tariff threats are carried out. The IMF left unchanged its global growth forecasts at 3.9 percent for both 2018 and 2019, compared to its previous forecast issued in April. Read More »

As sanctions start to bite, Iran crude exports set to wilt

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China, the biggest single importer of Iranian oil at 650,000 bpd according to trade flow data in Thomson Reuters Eikon, may ignore USA sanctions and keep importing. "That might include pressure to release oil from the Strategic Petroleum Reserve, which the administration indicated they were considering on Friday", said Lipow. Read More »

Japan gets cheaper cheese as it signs EU’s ‘biggest’ trade deal

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According the European Commission, the deal is projected to eliminate just under $1.2 billion worth of tariffs for EU exporters and double the amount for Japanese firms. Japan's Prime Minister Shinzo Abe had been scheduled to sign the deal in Brussels last week, but cancelled his trip after devastating floods that killed more than 220 people. Read More »